Form 10 Registration Statement is now effective, Vireo will transition to full U.S GAAP reporting as required by the SEC
MINNEAPOLIS, Jan. 26, 2021 /PRNewswire/ — Vireo Health International Inc., (“Vireo” or the “Company”) (CNSX: VREO,OTCQX: VREOF), the leading physician-founded, science-focused multi-state cannabis company, announced today that its Form 10 Registration Statement filed with the U.S. Securities and Exchange Commission (the “SEC”) became effective earlier this month.
The Company will now be subject to U.S. GAAP reporting requirements of the SEC, as well as the requirements of the Securities Act of 1933, as amended, and the Exchange Act of 1934, as amended. The Company will now begin filing annual reports with the SEC on Form 10-K, quarterly reports on Form 10-Q, periodic reports on Form 8-K, and have additional reporting obligations related to proxy materials and insider security ownership and transactions.
The Form 10 filing provides detailed and audited information about the Company’s operations, including an overview of the business strategies, risk factors, and financial statements. An ongoing obligation to timely file with the SEC will also help the Company’s new and current investors make more informed and educated investment decisions about the Company. A copy of the Form 10 is available at www.sec.gov under the name Vireo Health International, Inc.
We are pleased to announce that our Form 10 Registration Statement is effective and that we’re now a U.S. reporting company. This was an important step in our progression toward up-listing to a national U.S. exchange, in preparation for potential regulatory changes. It also demonstrates our continued commitment to providing more transparent disclosure practices for our shareholders.
Kyle Kingsley, M.D., Chairman and Chief Executive Officer
About Vireo Health International, Inc.
Vireo Health International, Inc. is a physician-led cannabis company focused on bringing the best of technology, science, and engineering to the cannabis industry. Vireo manufactures proprietary, branded cannabis products at environmentally-friendly, state-of-the-art cultivation sites and other facilities and distributes its products through its growing network of Green Goods™ retail locations and third-party dispensaries. Vireo’s team of more than 400 employees, led by scientists, engineers, and cultivation experts, is focused on efficiency and the creation of best-in-class products, while driving scientific innovation within the cannabis industry and developing meaningful intellectual property. Today, Vireo is licensed to grow and/or process cannabis in seven markets. The Company is operational in five of those markets – including the core markets of Arizona, Maryland, Minnesota, New Mexico, and New York. The Company currently operates 16 dispensaries nationwide and holds additional retail licenses in four markets. For more information about Vireo Health, please visit www.vireohealth.com.